By Lindsay V.R. Moss, Esq. — [email protected]
A Special Needs Trust is an important estate planning tool for persons with disabilities. A Special Needs Trust can allow for a disabled person to continue to receive public benefits while retaining a source of funds to pay for extra services and programs that government benefits do not cover. A Special Needs Trust can be set up by the disabled person, family member or court system to “hold” an inheritance. If the disabled person received an inheritance outright, said inheritance would be considered an asset, thus possibly disqualifying the disabled person from receiving needs-based public benefits. A Special Needs Trust will hold the assets in the trust, which is not controlled by the disabled person, thereby allowing the continuation of receipt of public benefits. The trust can pay for supplemental needs for the disabled person, including personal care services, dental expenses, vacations and travel, and many other needs and services that are not provided by public benefits. Contact Elville & Associates to find out more about estate planning for an individual with special needs.
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